Acquisitions completed from the 2021 financial year are distributed among the Group’s business areas as follows:

Acquisitions Time Net Sales, SEKm* Number of employees* Business area
AddVision, Germany April, 2021 700 190 Medtech
Healthcare 21 Group, Ireland April, 2021 1,700 450 Medtech
Bio-Connect Group, Netherlands September, 2021 140 31 Labtech
Fischer Medical ApS, Denmark November, 2021 60 12 Medtech
Camanio AB, Sweden December, 2021 13 18 Medtech
MBA Incorporado S.L, Spain January, 2022 670 285 Medtech
Business from Telia Health Monitoring, Sweden March, 2022 4 8 Medtech
O’Flynn Medical Ltd, Ireland April, 2022 64 36 Medtech
BioCat GmbH, Germany April, 2022 90 20 Labtech
JK Lab Nordic AB, Sweden July, 2022 24 6 Labtech
    3,465 1,056  
* Refers to conditions at the time of acquisition on a full-year basis.

Four acquisitions were completed during the interim period: 

On December 20, 2021, an agreement was signed to acquire the operations from Telia Health Monitoring to the Medtech business area. Telia Health Monitoring develop and provides a digital platform solution that enables self-monitoring by patients with chronic diseases. Access took place on March 1, 2022 and the business, with sales of SEK 4m, and its eight employees, have been integrated into Camanio.

On December 22, 2021, an agreement was signed to acquire all the shares in MBA Incorporade S.L, a leading Spanish orthopaedic and trauma surgery business. MBA is acquired from Atlanta Private Equity, which owns approximately 75 percent, and a number of minority shareholders, which own 25 percent. The final purchase price amounts to a total of EUR 59 million after debt settlement and is financed through extended credit facilities. MBA will operate as a separate subgroup and will be part of the Medtech business area. The acquisition was completed and the shares accessed on January 20, 2022. MBA has annual net sales of approximately SEK 670m and 285 employees. 

On 1 April 2022, AddLife acquired all shares in the Irish company O’Flynn Medical Ltd. O’Flynn Medical is an independent distributor offering product sales, rental and technical services to the hospital sector, private customers and nursing homes in Ireland. The company will become part of the Healthcare 21 Group, which AddLife acquired to the business area Medtech in 2021. O'Flynn has sales of approximately EUR 6.4 million and 36 employees. 

On 1 April 2022, AddLife acquired all shares in the German company BioCat GmbH to the Labtech business area. BioCat is a specialized distributor of products and services to the life science research market with annual revenues of EUR 9 million and has 20 employees. The company is located in Germany but also has sales in Austria and Switzerland.

The effect of the acquired companies completed during the interim period on the AddLife Group's net sales was SEK 438m, on EBITA SEK 86m, on operating profit SEK 63m and on profit after tax for the interim period SEK 41m. Had the acquistions, been completed on January 1, 2022, their impact would have been aproximately SEK 479m on net sales, on EBITA SEK 94m and on operating profit SEK 69m and SEK 46m on profit after tax.


According to the preliminary acquisition analyses, the assets and liabilities included in the acquisitions carried out during the financial year 2022 were as follows:

Fair value Total
Intangible non-current assets 560
Other non-current assets 443
Inventories 271
Other current assets 445
Deferred tax liability/tax asset -128
Other liabilities -985
Acquired net assets 606
Goodwill 354
Consideration¹ 960
Less: cash and cash equivalents in acquired businesses -194
Contingent consideration not yet paid -16
Effect on the Group’s cash and cash equivalents 750
¹ The consideration is stated excluding acquisition expenses.  

The goodwill resulting from the acquisitions is attributable to expectations that the Group's position in the market in question for each acquisition will grow stronger and to the knowledge accumulated in the companies acquired. Transaction costs for the acquisitions totalled SEK 12m and are recognised as selling expenses. Revaluation of liabilities for contingent consideration added costs of SEK 4m during the interim period, which is recognised as other operating costs. An additional contingent consideration of SEK 31m has been paid during the interim period regarding the acquisition of Euroclone and Ropox during year 2020. 

Latest updated: 7/14/2022 5:19:43 PM by